Uniswap just crossed a notable threshold: about two-thirds of protocol revenue now comes from Robinhood Chain. Robinhood’s Ethereum-compatible network, launched in July, was already a volume story. But with close to $79 million in trading fees over the last month, it has become the main driver of Uniswap’s economics. That matters because a larger share of Uniswap’s business is now tied to one venue and one distribution channel.
Over the last 48 hours, Uniswap’s price action pushes steadily higher, opening at $5.16 and closing at $5.72, a gain of nearly 11%. Price now tests just below marked resistance at $5.92.
Uniswap has climbed about 100% in the recent move, even though the revenue surge is being driven primarily by Robinhood Chain. That leaves the token trading against a much narrower earnings base: if volume on that chain keeps compounding, the rally looks more justified; if it cools, Uniswap’s recent revenue strength could fade much faster than the price move implies.